Fewer people are flexing their biceps as consumer spending slows

MidOcean Partners has approached the firm amid warnings from LA Fitness that trading conditions are deteriorating.

Though profits rose by 13.5% to �4.2m ($7.9m) in the first half, forecasts for the rest of the year are uncertain.

The potential offer from MidOcean would see the group's shares valued at 220p and would also see the bidder take on about �50m in debt.

Friday's announcement follows months of speculation after LA Fitness confirmed in December that it had received a number of bid approaches.

Sagging trade

The London-based group has 69 clubs operating in the UK, but has recently suffered, in common with UK retailers, from a decline in consumer confidence following last year's interest rate increases.

Trading since the end of January has proved challenging Peter Jacobs chairman See LA Fitness share price

"This is an experience we believe to be widespread in our sector," the company said.

Like-for-like sales rose by 3% during the year, while total sales were 8.1% higher at �41.5m.

However, the number of people enrolled at its clubs dropped slightly to 195,550 from 196,900 in the previous year.

And trading since January this year has been disappointing.

"Trading since the end of January has proved challenging and the outlook for the remainder of the financial year is now less positive than the board's earlier expectations," said chairman Peter Jacobs.

Bidder MidOcean has previously been involved in deals with Center Parcs and the Laurel Pub chain, and is based in London and New York.